Freddie Mac: Requirements Once You’ve Established a Custodial Account
July 5, 2016
As a reminder, all active Freddie Mac Servicers with at least one mortgage in their portfolio must have an account at an eligible depository for principal/interest and escrow and must submit their completed Letter Agreements to Freddie Mac when establishing their custodial accounts
To make it easier for you to submit the Letter Agreement, we’ve created new, step-by-step How to Submit a Completed Letter Agreement instructions [pdf]. Please review these prior to completing and sending the required Letter Agreement(s).
We also want to draw your attention to the existing online Single-Family Seller/Servicer Guide (Guide) forms which you’ll need to complete and return to us as part of the requirements.
- Form 1057SF [pdf], Letter Agreement for Servicer’s Single-Family Principal and Interest, or P & I Disbursement Clearing Custodial Account.
- Form 1058SF [pdf], Letter Agreement for Servicer’s Single-Family Buydown or Escrow Custodial Account.
- Form 1059SF [pdf], Letter Agreement for Single-Family Principal and Interest, or P & I Disbursement Clearing Custodial Account.
- Form 1060SF [pdf], Letter Agreement for Single-Family Buydown or Escrow Custodial Account.
Please bookmark them for easy access, or save this article so you’ll have the links handy.
For more information on new Servicer account setup, visit Become a Seller/Servicer – Freddie Mac and review the “Approved Customers – Get Started” section.
Source: Freddie Mac